India, New Delhi: According to the recommendations of the Trade and Rehabilitation Administration of the Ministry of Commerce's investigation department, India imposes an anti-dumping duty of up to US$719 per tonne on nylon yarns imported from the European Union (EU) and Vietnam for a period of five years.
The Inland Revenue Department said in a notice: 'The anti-dumping duties imposed... have been in effect since October 6 and are valid for five years (unless they are cancelled, replaced or modified) and paid in Indian currency.
In its investigation, the Trade and Rehabilitation Administration (DGTR) pointed out that nylon yarns (multifilaments) exported from India to these two regions were below normal prices, and Indian domestic industries suffered heavy losses due to import dumping.
Taxation is to protect domestic manufacturers of such yarns from cheap imports from the EU and Vietnam. The anti-dumping duties imposed are $719.44 per ton to $128.06 per ton.
From October 2015 to March 2017 (during the survey), the yarn imported from the EU and Vietnam increased from 7,201 tons in 2013 to 2014 to 13,799 tons.
The following companies have jointly applied to start the investigation and impose tariffs: JCT Co., Ltd., Polyfilms, Gujarat, Fertilizers and Chemicals, Prafful Overseas and AYM Syntex (formerly Welspun Syntex).
This yarn is mainly used in home and industrial applications such as curtains, sewing, embroidery threads and fishing nets.
In order to propose a tariff, the DGTR must determine in its investigation that such dumping has caused substantial harm to domestic market participants. Anti-dumping duties are imposed to prevent the import of products below the cost price and to provide fairness to local industries. Competitive environment. According to the World Trade Organization (WTO) system, anti-dumping duties are allowed. India and China are both members of the WTO-based WTO.
The purpose of this tariff is to ensure fair trade practices and create a level playing field for Indian domestic producers relative to foreign producers and exporters. This is not a measure to limit imports or cause unreasonable increases in product costs.